COTD: Auction listings drop 25.2% QoQ in Q3

Mortgagee and owner sale listings were nearly equal.

The third quarter of 2024 saw 80 auction listings, a 25.2% drop from Q2.

In Q3, mortgagee and owner sale listings were nearly equal, with 40 and 41, respectively.

The remainder of the listings consist of three industrial units as MCST sales, one non-landed home as an Estate sale, and one shophouse as a Trustee sale.

According to Knight Frank, there have been more MCST sales at auctions.

Last year, there were none, but in the first nine months of 2024, there were four, which is a "rare sight," said Knight Frank.

"there were more non-residential than residential property MCST listings," said the expert.

Knight Frank said these properties were likely listed due to owners being unavailable, involved in disputes, or have left the country with unsuccessful tracing efforts.

"As it is usually not possible to view properties listed under MCST sale due to a lack of access, these units are typically priced lower when compared to mortgagee and owner listing," Knight Frank said.

" Nevertheless, a property being auctioned as an MCST sale can still present an opportunity for buyers, the expert added.